FARNIENTE: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
FARNIENTE
NACE 10.111, Manufacture of food products
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€521,814
2023 · €22,735+€499,079
Equity
€1.2m
2023 · €659,974+€516,362
Cash
€596,871
2023 · €118,270+€478,600
Balance sheet total
€6.7m
2023 · €5.1m+€1.7m
Largest movements
Assets
- Receivables within one year +€709,672
up €709,672 (+20.3%), from €3.5m to €4.2m
of which Other amounts receivable: +€588,232
- Cash +€478,600
up €478,600 (+404.7%), from €118,270 to €596,871
mainly Net result for the year (+€521,814) and Short-term financial debts (+€366,573)
- Tangible fixed assets +€435,955
up €435,955 (+46.7%), from €933,979 to €1.4m
of which Leasing and similar rights: +€577,466
Equity and liabilities
- Profit (loss) carried forward +€521,814
up €521,814, from -€27,890 to €493,924
- Short-term financial debts +€366,573
up €366,573 (+27.9%), from €1.3m to €1.7m
- Debts after one year +€366,204
up €366,204 (+60.3%), from €607,008 to €973,211
- Tax, wage and social debts +€142,025
up €142,025 (+36.1%), from €393,307 to €535,331
of which Remuneration and social security: +€105,269
- Accrued charges and deferred income +€133,336
up €133,336 (+1473.2%), from €9,051 to €142,387
Income statement
- Goods and materials -€319,545
down €319,545 (-4.0%), from €7.9m to €7.6m
of which Purchases: -€265,237
- Staff costs +€226,225
up €226,225 (+9.4%), from €2.4m to €2.6m
- Services and other goods -€174,665
down €174,665 (-6.2%), from €2.8m to €2.6m
- Taxes +€163,767
up €163,767 (+189.1%), from €86,601 to €250,368
of which Taxes: +€165,885
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2023
€22,735
Turnover
+€42,594
Other operating income
+€18,409
Goods and materials
+€319,545
Services and other goods
+€174,665
Staff costs
-€226,225
Depreciation
-€27,890
Write-downs
+€28,882
Other operating charges
-€3,060
Other operating items
+€272,627
Financial income
-€1,839
Financial charges
+€65,138
Taxes
-€163,767
Result 2024
€521,814
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€435,416
Investment
-€753,631
Financing
+€796,815
Cash 2023
€118,270
From operations (derived)
+€435,416
Net result for the year
+€521,814
Depreciation
+€318,217
Stocks and contracts
-€12,679
Receivables within one year
-€709,672
Deferred charges and accrued income
-€16,262
Trade debts
+€58,637
Tax, wage and social debts
+€142,025
Accrued charges and deferred income
+€133,336
Investment (derived)
-€753,631
Investment in fixed assets (net)
-€753,631
Financing
+€796,815
Debts after one year
+€366,204
Current portion of long-term debt
+€69,490
Short-term financial debts
+€366,573
Contributions, distributions and other
-€5,452
Cash 2024
€596,871
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,083,647 | €6,736,275 | +€1.7m | +32.5% |
| Fixed assets | 21/28 | €954,120 | €1,389,535 | +€435,415 | +45.6% |
| Tangible fixed assets | 22/27 | €933,979 | €1,369,934 | +€435,955 | +46.7% |
| Land and buildings | 22 | €487,855 | €446,535 | -€41,320 | -8.5% |
| Plant, machinery and equipment | 23 | €395,792 | €295,015 | -€100,778 | -25.5% |
| Furniture and vehicles | 24 | €22,586 | €23,173 | +€587 | +2.6% |
| Leasing and similar rights | 25 | €27,746 | €605,212 | +€577,466 | +2081.3% |
| Financial fixed assets | 28 | €20,141 | €19,601 | -€540 | -2.7% |
| Other financial fixed assets | 284/8 | €20,141 | €19,601 | -€540 | -2.7% |
| Amounts receivable and cash guarantees | 285/8 | €20,141 | €19,601 | -€540 | -2.7% |
| Current assets | 29/58 | €4,129,527 | €5,346,740 | +€1.2m | +29.5% |
| Stocks and contracts in progress | 3 | €476,290 | €488,970 | +€12,679 | +2.7% |
| Stocks | 30/36 | €476,290 | €488,970 | +€12,679 | +2.7% |
| Raw materials and consumables | 30/31 | €476,290 | €488,970 | +€12,679 | +2.7% |
| Amounts receivable within one year | 40/41 | €3,497,090 | €4,206,761 | +€709,672 | +20.3% |
| Trade receivables | 40 | €1,422,532 | €1,543,972 | +€121,440 | +8.5% |
| Other amounts receivable | 41 | €2,074,557 | €2,662,789 | +€588,232 | +28.4% |
| Cash at bank and in hand | 54/58 | €118,270 | €596,871 | +€478,600 | +404.7% |
| Deferred charges and accrued income | 490/1 | €37,876 | €54,138 | +€16,262 | +42.9% |
| Total equity and liabilities | 10/49 | €5,083,647 | €6,736,275 | +€1.7m | +32.5% |
| Equity | 10/15 | €659,974 | €1,176,336 | +€516,362 | +78.2% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €54,374 | €54,374 | = | 0.0% |
| Non-distributable reserves | 130/1 | €54,374 | €54,374 | = | 0.0% |
| Legal reserve | 130 | €54,374 | €54,374 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,890 | €493,924 | +€521,814 | |
| Investment grants | 15 | €133,490 | €128,038 | -€5,452 | -4.1% |
| Provisions and deferred taxes | 16 | €272,627 | €272,627 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €272,627 | €272,627 | = | 0.0% |
| Other liabilities and charges | 164/5 | €272,627 | €272,627 | = | 0.0% |
| Amounts payable | 17/49 | €4,151,046 | €5,287,312 | +€1.1m | +27.4% |
| Amounts payable after more than one year | 17 | €607,008 | €973,211 | +€366,204 | +60.3% |
| Financial debts | 170/4 | €607,008 | €973,211 | +€366,204 | +60.3% |
| Subordinated loans | 170 | €75,468 | €51,409 | -€24,059 | -31.9% |
| Leasing and similar obligations | 172 | €21,371 | €495,910 | +€474,539 | +2220.5% |
| Credit institutions | 173 | €510,169 | €425,892 | -€84,277 | -16.5% |
| Amounts payable within one year | 42/48 | €3,534,988 | €4,171,713 | +€636,726 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €116,847 | €186,337 | +€69,490 | +59.5% |
| Financial debts | 43 | €1,312,594 | €1,679,167 | +€366,573 | +27.9% |
| Credit institutions | 430/8 | €1,312,594 | €1,679,167 | +€366,573 | +27.9% |
| Trade debts | 44 | €1,712,240 | €1,770,878 | +€58,637 | +3.4% |
| Suppliers | 440/4 | €1,712,240 | €1,770,878 | +€58,637 | +3.4% |
| Taxes, remuneration and social security | 45 | €393,307 | €535,331 | +€142,025 | +36.1% |
| Taxes | 450/3 | €117,507 | €154,263 | +€36,755 | +31.3% |
| Remuneration and social security | 454/9 | €275,799 | €381,069 | +€105,269 | +38.2% |
| Accrued charges and deferred income | 492/3 | €9,051 | €142,387 | +€133,336 | +1473.2% |
| Operating income | 70/76A | €14,128,593 | €14,189,596 | +€61,003 | +0.4% |
| Turnover | 70 | €13,956,629 | €13,999,223 | +€42,594 | +0.3% |
| Other operating income | 74 | €171,964 | €190,373 | +€18,409 | +10.7% |
| Operating charges | 60/66A | €13,812,064 | €13,273,520 | -€538,543 | -3.9% |
| Goods for resale, raw materials and consumables | 60 | €7,907,798 | €7,588,253 | -€319,545 | -4.0% |
| Purchases | 600/8 | €7,866,169 | €7,600,932 | -€265,237 | -3.4% |
| Change in stocks: decrease (increase) | 609 | €41,630 | -€12,679 | -€54,309 | |
| Services and other goods | 61 | €2,814,150 | €2,639,485 | -€174,665 | -6.2% |
| Remuneration, social security and pensions | 62 | €2,403,403 | €2,629,628 | +€226,225 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €290,326 | €318,217 | +€27,890 | +9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €38,156 | €9,274 | -€28,882 | -75.7% |
| Other operating charges | 640/8 | €85,604 | €88,664 | +€3,060 | +3.6% |
| Non-recurring operating charges | 66A | €272,627 | - | -€272,627 | |
| Operating profit (loss) | 9901 | €316,529 | €916,076 | +€599,547 | +189.4% |
| Financial income | 75/76B | €7,969 | €6,130 | -€1,839 | -23.1% |
| Recurring financial income | 75 | €7,969 | €6,130 | -€1,839 | -23.1% |
| Income from current assets | 751 | €2,408 | €618 | -€1,789 | -74.3% |
| Other financial income | 752/9 | €5,561 | €5,511 | -€50 | -0.9% |
| Financial charges | 65/66B | €215,162 | €150,024 | -€65,138 | -30.3% |
| Recurring financial charges | 65 | €215,162 | €150,024 | -€65,138 | -30.3% |
| Debt charges | 650 | €179,659 | €121,433 | -€58,226 | -32.4% |
| Other financial charges | 652/9 | €35,503 | €28,590 | -€6,913 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €109,336 | €772,182 | +€662,846 | +606.2% |
| Income taxes | 67/77 | €86,601 | €250,368 | +€163,767 | +189.1% |
| Taxes | 670/3 | €86,691 | €252,576 | +€165,885 | +191.4% |
| Tax adjustments and reversals of tax provisions | 77 | €90 | €2,208 | +€2,118 | +2347.6% |
| Profit (loss) for the period | 9904 | €22,735 | €521,814 | +€499,079 | +2195.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,735 | €521,814 | +€499,079 | +2195.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.